European shares were mixed, with investors awaiting a US employment report. The ESTX 50 (+0.53%), CAC 40 (+0.34%) and Dax (+0.63%) all posted gains in early trading, while the UK markets (-0.24%) retreated. The monthly jobs report is forecast to show American employers added 180,000 workers in June, more than the previous month, and the unemployment rate rose to 4.8% from 4.7%. TDC A/S rallied +7.5% after a report that Apollo Global Management LLC is interested in the Danish company. Air France-KLM Group dropped -3% after saying passenger traffic for June fell and its chief financial officer announced it’s stepping down to become CFO at ISS A/S. UK Housebuilders extended their rebound, with Taylor Wimpey Plc and Barratt Developments Plc up at least +2.8%.
US stocks declined, weighed by energy shares, but gains in Costco and tech shares lifted the Nasdaq. The Dow Jones Industrial Average (-0.13%) and the S&P 500 (-0.09%) both declined, while the Nasdaq Composite (+0.38%) increased. The energy sector was dragged lower by Exxon and Chevron as oil futures prices fell nearly 5% after crude stockpiles fell slightly less than forecast. High-yielding sectors also pulled the S&P lower even as yields on long term US government debt remained near record lows. Costco gained +4.9% and was the largest gainer in the Nasdaq and S&P after reporting that June sales rose more than expected. Humana Inc dropped -9.6% after it was reported that the US Department of Justice has significant concerns about Aetna Inc’s proposed acquisition of Humana.
Asian stocks fell as stronger yen weighed on Japanese shares and investors waited for a US jobs report to assess its implications for monetary policy. The S&P/ASX 200 (+0.05%) was slightly up, while the Hang Seng (-0.69%) and the Nikkei 225 (-1.11%) both declined. Japanese voters head to the polls on Sunday for an upper house election that Prime Minister Shinzo Abe has billed as a gauge of backing for his economic policies. Nintendo surged +8.9% after Pokemon Go climbed to the top of the free to use charts for Apple Inc in the US and Australia. Asahi Glass Co slumped -8.2% after a report in the Nikkei newspaper that the company’s first half sales will be about 630 billion yen.
Morning Spread 8th March 2017 European shares traded flat this morning, the modest moves masking significant results driven games by several companies on a bust day for European earnings.
Morning Spread 2nd November 2016 Asian stocks followed global equities lower despite gauges of manufacturing in China topping estimates and the Bank of Japan maintained its record stimulus program.
Morning Spread 1st November 2016 Asian stocks were mixed as declines in oil prices dragged energy shares lower and investor anxiety grew over next week’s US presidential election.
Morning Spread 28th October 2016 Asian stocks fell as oil explorers pushed down Hong Kong gauges, while investors digested earnings from several companies.
Morning Spread 27th October 2016 US stocks were mixed following the release of earnings from several companies.
Morning Spread 24th October 2016 US stocks were little changed as a record day for Microsoft and earnings from McDonald’s helped offset a fall in energy and healthcare shares.
Morning Spread 19th October 2016 Asian shares rose as a barrage of Chinese data confirmed the economy had stabilised on the back of government spending and a hot housing market, even if worries about debt continue to mount.
Morning Spread 10th October 2016 Asian stocks were mixed following the second US presidential debate between Hilary Clinton and Donald Trump.
Morning Spread 5th October 2016 Most Asian stocks outside Japan slid on concern central banks will reduce stimulus, while the Nikkei climbed after the yen weakened.
Morning Spread 27th September 2016 Asian stocks advanced with investors viewing Democratic candidate Hillary Clinton as having gotten the upper hand in the first US presidential debate.